Friday, 15 June 2012
Osborne Launches New Idiotic Scheme.
As promised in his Mansion House speech George Osborne has launched yet another useless and idiotic scheme to make it look as if he's doing something. Essentially he has offered the banks yet more money on the proviso that they lend it on easy terms to businesses and would-be home owners. Great idea if you ignore the facts - that business doesn't want to expand their operations in such an uncertain economic climate and that people simply cannot afford the over-inflated property prices no matter how low the interest rates. The fact that his scheme, as far as mortgage lending is concerned, would simply increase the problem of sub-prime lending doesn't even register on his dim intellect. As usual George Osborne has got it all arse about face and has succeeded only in raising the shareprices of the banks. It would have been cheaper and more cost effective to simply build more houses, stimulating the economy and reducing house prices at the same time. Simples! Too simples for this ideologically driven moron who's thinking is bound by the need to save an economic system that is not worth saving.